Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY's stock price reached a new 52-week high on Tuesday . The stock traded as high as $133.36 and last traded at $131.83, with a volume of 735102 shares trading hands. The stock had previously closed at $132.64.
Analysts Set New Price Targets
Several analysts recently issued reports on the company. Wall Street Zen downgraded Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Scotiabank assumed coverage on Royal Bank Of Canada in a research note on Thursday, May 15th. They issued a "sector outperform" rating for the company. CIBC reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. Cibc World Mkts upgraded Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Finally, Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Royal Bank Of Canada currently has a consensus rating of "Moderate Buy" and an average price target of $193.00.
Read Our Latest Research Report on RY
Royal Bank Of Canada Stock Performance
The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a 50-day moving average price of $126.67 and a 200-day moving average price of $120.56. The firm has a market capitalization of $186.16 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 1.51 and a beta of 0.89.
Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.05). The business had revenue of $11.38 billion for the quarter, compared to analysts' expectations of $15.77 billion. Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. Royal Bank Of Canada's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.92 earnings per share. On average, research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.
Royal Bank Of Canada Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be issued a $1.1152 dividend. The ex-dividend date of this dividend is Thursday, July 24th. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. This represents a $4.46 annualized dividend and a yield of 3.38%. Royal Bank Of Canada's dividend payout ratio is currently 45.67%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Royal Bank Of Canada during the fourth quarter worth about $2,425,519,000. Goldman Sachs Group Inc. lifted its holdings in Royal Bank Of Canada by 129.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider's stock worth $796,227,000 after buying an additional 3,990,839 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Royal Bank Of Canada by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider's stock worth $7,048,307,000 after acquiring an additional 3,387,971 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Royal Bank Of Canada by 104.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 6,346,768 shares of the financial services provider's stock valued at $715,043,000 after acquiring an additional 3,244,266 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Royal Bank Of Canada by 31.2% during the 4th quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider's stock valued at $1,027,061,000 after acquiring an additional 1,991,364 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.
About Royal Bank Of Canada
(
Get Free Report)
Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.
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